Air Street Capital, led by Nathan Benaich, has raised $232M for its Fund III, making it the largest solo GP venture fund in Europe.

The fund focuses on investing in AI-first companies operating in North America and Europe. Air Street Capital leads early-stage investment rounds with checks ranging from $500,000 to $15 million, alongside select growth investments of up to $25 million.

Founded in 2019, Air Street Capital is built on the conviction that AI is a fundamental driver of technological progress. The firm has backed companies across multiple domains including Synthesia, Black Forest Labs, Wayve and Lambda.

Air Street Capital also contributes to the growth of the AI ecosystem through initiatives such as the annual "State of AI" report, the RAAIS (Research and Applied AI Summit), and a global network of approximately 3,000 researchers and builders. The firm is also engaged in policy making activities, such as reforms to university spinout frameworks adopted by the UK government.

Benaich stated that this is the most transformative period in technology of our generation, and that Air Street is built for this moment.